San Diego, California--(Newsfile Corp. - August 15, 2022) - Shareholder rights law firm Johnson Fistel, LLP (www.JohnsonFistel.com) is investigating whether Olo Inc. ("Olo" or the "Company") (NYSE: OLO), any of its executive officers, or others violated securities laws by misrepresenting or failing to timely disclose material, adverse information to investors. The investigation focus on investors' losses and whether they may be recovered under the federal securities laws.
What if I purchased Olo common stock? If you purchased Olo common stock and suffered significant losses on your investment, join our investigation now:
Or for more information, contact Jim Baker at jimb@johnsonfistel.com or (619) 814-4471
There is no cost or obligation to you.
What is Johnson Fistel investigating? On August 11, 2022, Olo announced second-quarter results and outlook. The net loss was $11.7 million or $0.07 per share, compared to a net loss of $2.4 million or $0.02 per share a year ago. Additionally, per one analyst covering Olo, management disclosed Subway (~15K locations) has begun the process of replacing Olo's Rails product with a homegrown solution (2.5k locations moved in 2Q with the remaining expected in 1Q23. Following this news, Olo stock was trading down over 30% in pre-market trading on August 12, 2022.
What if I have relevant nonpublic information? Individuals with nonpublic information regarding the company should consider whether to assist our investigation or take advantage of the SEC Whistleblower program. Under the SEC program, whistleblowers who provide original information may, under certain circumstances, receive rewards totaling up to thirty percent of any successful recovery made by the SEC. For more information, contact Jim Baker at (619) 814-4471 or jimb@johnsonfistel.com.
Contact:
Johnson Fistel, LLP
Jim Baker, Lead Securities Analyst
Telephone: (619) 814-4471
Email: jimb@johnsonfistel.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/133864
